EURUSD Breaks Support as Dollar Strength DominatesEUR/USDOANDA:EURUSDDomicChainaEURUSD is showing clear weakness after breaking below both EMA34 and EMA89. Price has now dropped toward the 1.1650 area with a series of consecutive bearish candles, suggesting that sellers are fully controlling the short-term trend. What stands out to me is the decisive breakdown below the 1.1700 support zone. If EURUSD continues trading beneath this level, there is a strong possibility the pair could extend losses toward 1.1620, with 1.1580 becoming the next downside target in upcoming sessions. From a macro perspective, the biggest pressure currently comes from the strength of the US dollar after both US CPI and PPI data came in above expectations. Persistent inflation has almost completely removed expectations for Fed rate cuts this year, while also pushing US Treasury yields sharply higher again. At the same time, the European economy continues showing signs of slowing growth, while the ECB remains more dovish compared with the Federal Reserve. This keeps the euro under pressure against the dollar in the short term. The bearish signal on the chart is that EMA34 has now crossed below EMA89, and both moving averages are starting to slope downward — a structure that often confirms increasing bearish momentum.